Libya's Central Bank Resumes Foreign Currency Requests for Personal Use

Libya's Central Bank announced on Sunday, November 8, 2026, that it has begun processing requests for foreign currency purchases for personal use. These requests were previously booked through an electronic system. The bank stated that it will implement the requests according to the applicable controls and procedures. This move aims to facilitate citizens' access to their allocated foreign currency.

The resumption of processing requests comes after a halt that lasted several weeks. The pause followed reports that the US Federal Reserve had suspended dollar transactions with the Central Bank. According to the French website Africa Intelligence, this development had raised concerns about the bank's ability to manage foreign currency transactions.

The Central Bank's decision to restart processing requests is part of its efforts to ensure citizens can access their allocated foreign currency. The bank's management, led by Fawzi Bukhzam, who took over from Naji Issa, is working to maintain stability in the country's financial system. Bukhzam officially assumed his role as Governor of the Central Bank on November 8, 2026.

The Central Bank's electronic system allows citizens to book requests for foreign currency purchases. The bank reviews and processes these requests based on the applicable controls and procedures. This system aims to streamline the process and make it more efficient for citizens to access foreign currency for personal use.

The resumption of foreign currency requests for personal use is a significant development for Libyan citizens. It will enable them to access the foreign currency they need for various purposes, such as travel, education, and medical treatment. The Central Bank's move is expected to help alleviate some of the financial challenges faced by citizens.

The Central Bank's decision to restart processing requests also reflects its commitment to maintaining financial stability in the country. The bank continues to work towards ensuring that citizens have access to the financial services they need. This includes managing the country's foreign currency reserves and maintaining relationships with international financial institutions.

The impact of the US Federal Reserve's suspension of dollar transactions with the Central Bank on Libya's economy remains to be seen. However, the Central Bank's resumption of processing foreign currency requests for personal use is a positive step towards maintaining financial stability. The bank will continue to work towards ensuring that citizens have access to the financial services they need.

Key points

• The Central Bank's resumption of processing foreign currency requests for personal use aims to facilitate citizens' access to their allocated foreign currency.
• The decision comes after a halt that lasted several weeks, following reports that the US Federal Reserve had suspended dollar transactions with the Central Bank.
• The Central Bank's electronic system allows citizens to book requests for foreign currency purchases, which are then reviewed and processed based on applicable controls and procedures.